Nigeria: Gombe to Launch N500 Million SMEs Fund

28 September 2020

Gombe — Gombe State Governor Muhammadu Inuwa Yahaya, has said all is set to launch a N500 million Small and Medium Scale Enterprises (SMEs) intervention programme to mitigate the negative impact of COVID-19 on small businesses.

The Commissioner for Finance and Economic Development, Muhammad Gambo Magaji, disclosed this weekend while declaring open a two-day training programme for SMEs owners. He also spoke about prospects on the new procurement law in the state and the amendments adopted to assist them partake in procurement activities during emergencies.

In a statement by the governor's spokesman, Ismaila Uba Misilli, the commissioner said the training was aimed at keeping SMEs owners abreast of the new requirements and incentives available to them including exclusive rights to contracts below N50m.

He urged the participants to take advantage of the training to learn about the new laws and the e-procurement procedures the state was adopting to aid procurement activities during the pandemic.

"The training which will be in two streams of 100 participants, is being facilitated by Microflex Limited," he said.

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